US soybeans net export sales down 11.07% on week: USDA
US soybean net export sales for the 2018-19 marketing year were 792,269 mt for the week ending December 6, down 11.07% from the previous week, Department of Agriculture data showed.
Since the new marketing year began September 1, total commitments — cumulative exports plus outstanding sales — were reported at 24.941 million mt, 33.76% below the same period last year. The total commitments represent 48.23% of the USDA?s 51.709 million mt of exports estimated for the entire marketing year.
The highest volume sales were reported to the Netherlands with 140,600 mt, Saudi Arabia with 131,462 mt and Japan 124,674 mt. The main reductions were to China with 60,000 mt and unknown destinations with 39,600 mt.
Exports for the most recent week were 1.147 million mt, 8.41% lower than the previous week. Total accumulated physical exports for the 2018-2019 marketing year rose to 14.314 million mt, 40.75% lower than the year-ago period, according to USDA data.
The top soybean export destinations for the week were Thailand with 152.988 mt, the Netherlands with 140,600 mt and Mexico with 115,570 mt.
Net sales are considered a more appropriate indicator of the strength of the soybean market than the physical exports, because they reflect new sales activity.